General Motors

Politics & Government
7:47 am
Tue December 10, 2013

In this morning's headlines: GM U.S. government free, marijuana bills, MSU post championship

User: Brother O'Mara flickr

The U.S. government no longer owns GM

The U.S. government sold its last stock in General Motors today. The government no longer owns parts of the company.

Medical marijuana bills could move forward today

"A state House panel could vote as early as today on some high-profile medical marijuana bills. The legislation would revive medical marijuana dispensaries in Michigan and allow patients to use edible forms of cannabis," Jake Neher reports.

MSU student raises $3,000 for owner of flipped car

"A Michigan State University student has raised more than $3,000 to help pay for damage done to a stranger's car by rowdy Spartan fans after the school's football team beat Ohio State in the Big Ten Championship game on Saturday," the Associated Press reports.

Auto
8:09 pm
Mon December 9, 2013

GM is 'Government Motors' no more

GM headquarters - Renaissance Center
John F. Martin Creative Commons

Four years after facing the possibility of its own demise, General Motors is free of the controversial government ownership that saved the Detroit automaker in 2009.

"It was an unambiguous success," says Steven Rattner, who headed the Obama Administration's Auto Task Force.

The task force shepherded GM through an unprecedented 42-day bankruptcy.

The U.S. Treasury announced Monday it had sold the last of its stock in GM, at a loss of $10.5 billion.

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Auto
3:07 pm
Fri December 6, 2013

General Motors to sponsor Flint's 'Back to the Bricks' and other related car shows

General Motors will be sponsoring the Michiana car shows and Flint's Back to the Bricks cruise next summer
Steve Carmody/Michigan Radio

General Motors is heading back to its roots.

The automaker announced today that it will sponsor Flint’s “Back to the Bricks” car show for the next five years. The show features hundreds of ‘classic’ cars and trucks.

“This is an event that is more than just a car cruise and a car show,” says GM spokesman Tom Wickham, “It brings people into a community…provides an economic boost to a community and we need an economic boost.”

About a half million people attended Back to the Bricks in Flint this year.

Stateside
4:47 pm
Thu December 5, 2013

What's behind General Motors' decision to withdraw Chevy from Europe?

Chevy's models will be withdrawn from European markets.
Chevrolet

Today, General Motors announced plans to largely withdraw its Chevrolet brand from Europe beginning in 2016.

The automaker says the decision was largely due to a challenging business model and the difficult economic situation in Europe.

Meanwhile, the Ford Mustang is celebrating its 50th birthday with a new design — and plans to go global.

Russell Padmore, business reporter for the BBC, joins us from London to talk about the latest auto news.

Listen to full interview above. 

Auto
4:25 pm
Fri November 29, 2013

There's 1 month left to 2013, but its already been a good year for Detroit's Big 3

GM

Auto companies report November's auto sales next week.

The news should be good, especially for Ford, Chrysler and Detroit.

Michelle Krebs is an analyst with Edmunds.com. She says the Detroit Three have had a great year so far, with car sales leading the way.   

“But they also are the biggest seller of trucks,” says Krebs, “People are buying big trucks again like they haven't in a long time.

Krebs says GM's did better this year than she expected.  She adds that’s especially true since Consumer Reports called the new Impala the "best sedan in the U.S."

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Opinion
8:23 am
Fri November 22, 2013

Good news for Michigan’s economy

Lessenberry commentary for 11/22/13

Half a century ago, America suffered one of the most traumatic events in our history: The assassination of President Kennedy. But while it is important to remember that, it might also be good to consider that there is a bunch of good economic news today. Good news, especially for Michigan.

Yesterday, University of Michigan economists presented their annual November forecast. They saw good things ahead, with the national economy growing almost twice as fast over the next two years as now.

Two experts from the Research Seminar in Quantitative Economics predicted five million new jobs over the next two years. Unemployment, they predict, will fall from just over seven to about six percent.

Meanwhile, they predict the automakers will sell half a million more units next year than this, more still in 2015, and the housing market will also grow.  Inflation will stay low and oil prices will remain steady. This is all very good news, if true.

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Business
5:39 pm
Sat November 16, 2013

Buick City's future brightening in Flint

The long vacant Buick City auto assembly plant site in Flint
Steve Carmody/Michigan Radio

The announcement this week that an Alabama company plans to build a pipe factory in Flint could help spur further investment in a former General Motors site there.

The 235 acre Buick City site is being marketed by the Racer Trust. The trust was set up to sell off abandoned General Motors properties. American Cast Iron Pipe is the first company to invest in Buick City.

Elliot Laws is with the Racer Trust. He says they’ll be blasting news of American’s plans to build in Flint to other potential investors…

Politics & Government
4:57 pm
Mon September 23, 2013

GM criticized for seeking Detroit tax abatement

General Motors wants tax incentives to help offset an investment in its Detroit assembly plant.

But some Detroiters say the bankrupt city shouldn’t be handing out subsidies to profitable carmakers.

A small group of protesters circled in front of GM headquarters in downtown Detroit Monday, demanding that the corporation “pay its taxes.”

The Reverend Charles Williams II, who led the protest, said it's not right for GM to look for tax abatements while the city is in federal bankruptcy court, and pensioners face possible cuts.

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Auto
10:54 am
Wed September 4, 2013

Automakers tally double digit sales gains in August

August was a good month for U.S. automakers.

Nearly all automakers are reporting double-digit sales gains as August shapes up to be another strong month for the industry.

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Auto
1:06 pm
Tue August 6, 2013

Sales of electric vehicles climb higher and prices drop

California remains the best market for the Chevy Volt.
GM

GM announced today that the price of a Chevy Volt will drop by $5,000:

The 2014 model will start at $34,995...

If consumers include federal tax credits ranging from $0-$7,500 (depending on individual tax liability), pricing could start at $27,495.

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Auto
3:18 am
Mon July 29, 2013

July auto sales are expected to be very good

thecarconnection.com

Analysts are expecting a robust month for auto sales.

Jesse Toprak is an analyst with TrueCar.com.  He says July sales were good across all categories.

“But two extreme segments stand out, we see very high demand for small cars and small SUVS, and a very healthy demand for large pickup trucks,” says Toprak.

Toprak says the increase in pickup sales is being driven by small business owners, and an uptick in home renovations.

Auto
6:30 pm
Thu July 25, 2013

GM makes $1.2 billion quarterly profit - same as Ford

General Motors logo in front of General Motors car
General Motors

General Motors is number two in global auto sales so far this year, just behind Toyota, and just in front of Volkswagon.

So why didn't GM make more money than its Dearborn rival, Ford Motor Company, in the second quarter?

Both companies made $1.2 billion, but Ford made that money based on a lower volume of sales.

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Politics & Government
8:53 am
Thu June 20, 2013

In this morning's news: Governor pushes Medicaid, teachers rally in capitol, GM receives top score

Morning News Roundup, Thursday, Oct. 13, 2011
User: Brother O'Mara Flickr

Governor cuts trip short

Governor Rick Snyder will return early from his trip to Israel today in order to lobby for Medicaid expansion. Snyder will encourage fellow Republicans to pass the legislation. “Today is the last day for lawmakers to pass Medicaid expansion before their two-month summer break,” reports Jake Neher.

Teachers protest education legislation

Michigan teachers rallied in Lansing yesterday to protest legislation that would allow state officials to close struggling school districts.  According to the Associated Press, “the legislation lets the state superintendent and treasurer dissolve a district with 300 to 2,400 students if certain criteria are met.”

General Motors receives high ratings

For the first time ever, General Motors topped the Initial Quality Survey released by automotive tracking firm J.D. Power.  Michigan Radio’s Tracy Samilton reports that GM received a better score than any other corporation in the study.  She says "people are reporting very few mechanical problems.  Most automakers have drummed out serious engine and transmission defects from their cars."

Auto
5:33 pm
Wed June 19, 2013

General Motors vehicles have fewest problems in first 90 days

This year's vehicle Initial Quality Survey by the business tracking firm J.D Power and Associates is a bit of a stunner.

The survey asks people how many problems they had with their car in the first 90 days of ownership.

The top auto company was GM. 

The company's GMC brand was second only to Porsche.  That's the first time GMC has ranked anywhere near that high in the history of the survey.   Chevy was fifth, also a dramatic rise in the rankings.

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Auto
12:37 pm
Wed June 5, 2013

Your government owns 16% of GM, officials hope to own less soon

GM's headquarters in downtown Detroit.
GM Media

Late last year, the U.S. Department of Treasury announced it would sell all its remaining stock in General Motors in 12 to 15 months.

Today, the Treasury is announcing a plan for another big sell-off.

Officials say, "subject to market conditions," they intend to sell 30 million additional shares of GM common stock "in conjunction with GM’s inclusion to the S&P 500 index effective as of the close of trading on June 6, 2013."

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Politics & Culture
3:59 pm
Thu May 30, 2013

Stateside for Thursday, May 30th, 2013

If you live in Michigan there’s a good chance you’ll head up north this summer, or maybe west to bask in the sun on Lake Michigan, but if you’re still not sure where to escape this summer, we have some fun tips on hidden vacation gems you are sure to enjoy.

And, Rick Pluta gave us an update on the Mackinac Policy Conference.

And, Daniel Howes shared his insights on how the financial and investing world views the Detroit auto companies.

Read more
Stateside
4:39 pm
Thu May 23, 2013

Detroit businesses give back to the community

General Motors claims "top automaker" crown.
user paul (dex) Flickr

An interview with Daniel Howes.

It’s Thursday, which means it’s time for our weekly conversation with Daniel Howes, the Business Columnist at the Detroit News.

This week, he focused on the business community in Detroit, where companies like General Motors are trying to give back through programs like the GM Student Corps. From Howe's column:

By itself, the pilot program unveiled in the Wintergarden of GM’s Renaissance Center, isn’t front-page news in a city bursting with the good, the bad and the financially ugly on a weekly basis. What GM Student Corps signifies, however, is another example of a key player in the business community seeing a communal need and moving to fill it, quickly.

He joined us today to discuss the business in Detroit as well as the health of the auto industry.

Listen to the full interview above.

Auto
5:03 pm
Wed May 22, 2013

Ford, Chrysler to keep some plants humming this summer

Car companies closed a lot of North American factories in the past ten years as the auto industry restructured.

That has made Jim Tetreault's job even more of an art and a science.

Tetreault is Ford's head of North American manufacturing.  He's responsible for maximizing the number of vehicles that any of the Detroit automaker's remaining plants can produce, while minimizing the downtime at each facility.

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Politics & Government
2:00 pm
Fri May 10, 2013

Lansing's mayor wants a third term

Lansing Mayor Virg Bernero kicking off his campaign for a third term as the capital city's mayor
Steve Carmody/Michigan Radio

Lansing Mayor Virg Bernero says he wants four more years in office. He formally announced his campaign today. 

“I’m telling you folks … Lansing is on the verge,” the partisan crowd groaned, and then laughed, as Virg Bernero joked at his campaign kickoff.

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Politics & Government
5:04 pm
Mon May 6, 2013

Why are Detroit automakers losing out in Europe?

GM's headquarters in Detroit.
Carlos Lowry Flickr

  If you hear the word Europe, you might find yourself thinking of great places to travel, a rich history, or family roots.

If you're an auto executive and you hear “Europe,” you’ll likely sigh and take a couple of aspirin for your headache.

That's because the Detroit automakers stand to lose $4 billion in Europe this year. And with a collapse in auto sales across the pond, trying to muscle through the kinds of changes that saved the industry here in North America is a totally different challenge in Europe.

Michelle Krebs of Edmunds.com and Michigan Radio’s auto reporter Tracy Samilton discuss the bleak picture in Europe for Detroit automakers.

Listen to the full interview above.

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